Both Sides of the Table

JUNE 27, 2021

At Upfront Ventures, we defined our “shots on goal” strategy based on 25 years of experience (we were founded in 1996): We take board seats and consider ourselves company-builders > stock pickers. Another 3–5 could return in aggregate $300–500 million. That’s return, not exit price of the company.

Bankruptcy 294

Bankruptcy Bridge Financing Portfolio Angel Investor 294

Agile VC

APRIL 17, 2011

How They Do It: Aggregate data from travel data warehouses like ITA as well as indexing travel providers websites, provide this information to consumers in a highly customizable search engine. Interesting to note that Hafner and English own common stock but also made meaningful investments in the Series A & B rounds.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Hunter Walker

FEBRUARY 24, 2023

It’s Very Likely That Artificial Intelligence Will Be Worth More In Aggregate Than is Currently Being Invested (Just Unevenly Distributed) In kindergarten my daughter learned to not ‘yuck’ someone’s ‘yum.’ That is, just because you don’t like something there’s no reason to share that in the moment with another person enjoying it.

Artificial Inteligence 111

Artificial Inteligence Aggregator Distribution Stock 111

View from Seed

MARCH 24, 2021

So, we decided to aggregate NextView’s “greatest hits.” “When public market investors describe a newly public company as the next Facebook or Google or Amazon they are implicitly embedding value to in the company’s stock beyond the core business” (Lee Hower).

Seed Stage 177

Seed Stage Hiring IPO Analytics 177

VC Cafe

APRIL 14, 2020

So I got curious: if virtual conferences and events are going mainstream, is there a virtual event aggregator? Is there already a virtual events aggregator? With usage exploding and the stock ( $ZM ) trading with a PE ratio of 1658, you’d think Zoom would have jumped on this already. What is going on where?

Aggregator 156

Aggregator Curation Exit Strategy PR 156

YoungUpstarts

OCTOBER 28, 2015

Startups bear the costs of their financing, from the first seed investment to the sale of Series A stock. Although the data is public, the startup may not have been able to manually aggregate that data on its own, or the owner of the website may expressly prohibit use of the data outside of the services the owner offers.

Convertible Security 100

Convertible Security IP Technical Review Software Review 100

Agile VC

OCTOBER 23, 2012

For example, if there were no S&P 500 ETFs or index mutual funds an investor could easily buy a “synthetic” equivalent by buying shares of all the S&P 500 stocks in proportion to each company’s weighting in the index.

LP 176

LP Accredited Investor Carried Interest Portfolio 176

Austin Startup

JULY 6, 2018

More traditional and comprehensive programs often require 5–8% of common stock, but often provide between $20K and $100K up-front as well. Anti-Dilution. See: Startup Accelerator Anti-Dilution Provisions; The Fine Print. Entrepreneurs often celebrate faking it until you make it. Know that some accelerators do the same.

Dilution 48

Dilution Startup Technical Review Equity 48

Hunter Walker

AUGUST 8, 2023

At the time, this is last quarter and the stock market has trended upwards nicely since then (a potential leading indicator of private tech valuations), we all agreed venture portfolios were probably still 25-40% overvalued. Valuations.

Portfolio 98

Portfolio Cap Table LP Valuation 98

The Startup Lawyer

JANUARY 2, 2014

I typically advise issuing 50% to 80% of the authorized shares of Common Stock to the initial founders upon incorporation. Thus, if the certificate of incorporation authorizes 10,000,000 shares of Common Stock, an aggregate of 5,000,000 to 8,000,000 share should be issued at incorporation.

Common Stock 84

Common Stock Founder Aggregator Stock 84

Agile VC

JUNE 5, 2011

The latter are included in free cash flow whereas the former are excluded, since they’re one-time in nature and it’s possible stock is used instead of cash for acquisitions. Keep in mind Yipit is an indirect competitor in the daily deals space (essentially a meta aggregator of deals sites), but the analysis is sound IMO.

North America 100

North America Chicago Boston Silicon Valley 100

Scott Edward Walker

JUNE 9, 2019

For example, if an investor owns 20% of the equity of a startup on a fully-diluted basis following the closing of a Series A round, it will have the right to purchase 20% of the shares of the preferred stock issued in the subsequent Series B round.

Preferred Stock 56

Preferred Stock Term Sheet Dilution Stock 56

Feld Thoughts

SEPTEMBER 27, 2011

The potential bad news is that if the merger is an all stock deal, the company will need to find a way to find cash to pay back the loan or negotiate a way for the acquiring company to deal with the debt. If it’s not a stock deal, then one normally sees one of the above scenarios. Some sort of conversion does occur.

Conversion 96

Conversion Sales Later Stage Preferred Stock 96

Start Up Blog

NOVEMBER 4, 2021

Yet ‘investors’ are currently paying more than the aggregate value of the next 12 biggest car companies to own a piece of Tesla. Of course there are another dozen reasons the price of Tesla stock seems irrational, but you get the picture. Will Tesla stock crash? However, Tesla Inc.

Technology 48

Technology Aggregator Stock Algorithm 48

YoungUpstarts

MAY 10, 2015

This also entails looking at how ideas flow and aggregate in social networks. Social Stock Traders Do Better. Sharing the example of stock-trading site eToro , Pentland described how members of the site can reveal their stock trades to each other and others to “copy” their trades. What are your thoughts on this?

Social Network 100

Social Network Stock Aggregator Networking 100

VC Adventure

DECEMBER 2, 2014

With Pledge 1% we’re aiming to aggregate a large number of smaller transactions to create meaningful impact. This gift can be in the form of stock from the company, a pledge of stock from founders or other employees, gifts of time, gifts of profit or gifts of product.

Colorado 87

Colorado Aggregator Stock Equity 87

Andrew Payne

SEPTEMBER 3, 2019

Certain types of startups value variability at certain stages and WeWork has done a fine job laying claim to a meaningful fraction of aggregate annual venture investment. My bet: WeWork, assuming they make it public, becomes yet another roughly zero-sum stock market poker table for the hedge funds.

IPO 63

IPO Aggregator Stock Cost 63

View from Seed

JULY 28, 2016

In other words, ditch the standard stock photo and use something original and specific. In aggregate, he says, the conversion rates tend to go up. (He It should include relevance, context, value, and emotion (all of which Oli defines in the episode). No more handshaking people with sterile smiles, people! A quickly absorbable list.

Startup 136

Startup Seed Stage Cofounder Aggregator 136

Both Sides of the Table

OCTOBER 17, 2019

Just as I was getting the swing of things the world shifted beneath my feet and the stock market went into a free fall and venture capital all but shut down for nearly a year. It proved to be fortuitous because it allowed me the time & space I needed to get to know tons of founders and VCs and to hone my craft.

IP 223

IP Intellectual Property IRR Cofounder 223

Ben's Blog

OCTOBER 7, 2020

And it really just, kind of, comes from this problem, that in the aggregate, if you get 10,000 coin flips, we can say something spectacular about the quality of our decisions and what we should learn or not learn from them. And then I would aggregate them, and then feed that back to the group — to heighten the contradictions, essentially.

San Antonio 36

San Antonio Aggregator Jordan Stock 36

Agile VC

NOVEMBER 6, 2013

Well it’s not clear that media businesses, in aggregate, are inherently more valuable than e-commerce or premium services companies in aggregate [see Note 1 below regarding categorization]. Why are media businesses so valuable?

IPO 194

IPO Aggregator B2B Internet 194

VC Adventure

DECEMBER 2, 2014

With Pledge 1% we’re aiming to aggregate a large number of smaller transactions to create meaningful impact. This gift can be in the form of stock from the company, a pledge of stock from founders or other employees, gifts of time, gifts of profit or gifts of product.

Colorado 61

Colorado Aggregator Stock Equity 61

Start Up Blog

MARCH 29, 2020

Many of the parts that make an economy are real – like people – but much of it is just aggregated concepts for which measurements are possible. These equity positions should take the form of preferred convertible stock. While an economy can grow or decline – it’s an abstract concept.

Government 87

Government Australia Denmark Balance Sheet 87

ithacaVC

DECEMBER 14, 2011

As most of you probably know, LP is one of the fundamental economic attributes of preferred stock that preferred shareholders enjoy. Yes, it is possible to issue preferred stock without liquidation preference, but that is rarely done. Series B round = $5mm and the Series B preferred stock is participating with a 2x LP.

Liquidation Preference 49

Liquidation Preference LP Preferred Stock Liquidity Event 49

ConversionXL

DECEMBER 7, 2016

Recommendations can be powered by aggregate data, which determines the relevance of a certain item in relation to a given context, or user specific data, that fuels personalized recommendations. Here, an item can mean a piece of content, a product, or even a person (in the case of dating sites, for instance). Rating-Based Recommendations.

Conversion 48

Conversion Product Technical Review Widget 48

ReadWriteStart

NOVEMBER 18, 2019

Social Medial does the legwork for you. Photo: REDPIXEL / Adobe Stock. Content aggregator app developer Timehop is an excellent example of this idea in action.

PR 107

PR Startup Social Media Silicon Valley 107

ithacaVC

SEPTEMBER 20, 2011

In “VC world” Rule 409A is best known for providing a safe harbor for private company valuations, and in particular the setting of strike prices for employee stock options. Here is what he told me: the board can set the stock option price and not rely on the 409A valuation safe harbor. So, here goes.

Liquidation Preference 49

Liquidation Preference Common Stock Stock Options Valuation 49

View from Seed

NOVEMBER 18, 2020

Airbnb’s availability as a marketplace and its aggregation of substantial consumer demand has actually meant certain forms of lodging have been newly built or converted into rooms for the primary purpose of listing on Airbnb.

North America 401

North America IPO Prospectus Europe 401

YoungUpstarts

AUGUST 13, 2012

Sean Fanning developed Napster, one of the first aggregated and user-friendly peer-to-peer music file sharing platforms, when he was just a freshman at Boston’s Northeastern University. And we’re sure Zuckerberg, who still looks and dresses like a college sophomore, is only just getting started.

Intellectual Property 127

Intellectual Property New York City Pennsylvania Cofounder 127

ithacaVC

FEBRUARY 23, 2011

As the investors’ aggregate liquidation preference (ALP) increases typically the need for a MCOP also increases. The ALP is the total amount of $ that preferred stock holders are owed on a sale of the company under their liquidation preferences. A few key points to consider: 1.

Liquidation Preference 55

Liquidation Preference Management Preferred Stock Dividend 55

Austin Startup

APRIL 25, 2017

Had Facebook not purchased Instagram, Facebook’s aggregate numbers likely would have dipped as millennials have largely abandoned Facebook for Instagram and Snapchat. And to top it all off, Snap isn’t offering voting rights to public market investors, which should discount the stock price further. Now she’s on it every day!

Valuation 48

Valuation Technical Review Forecast Social Network 48

Eric Friedman

FEBRUARY 7, 2013

On the personal side it’s been a fun ride as well and I thought I would take stock. There is no aggregate place where I can see my likes, or likes I have “given” but I think it’s high. It’s been quite a ride for them and I will leave commentary on the Company up to others.

API 60

API Aggregator Stock Email 60

Venture Chronicles

MAY 26, 2010

At this point it’s all paper valuation because the stock isn’t liquid so achieving an outcome is a function of executing on the business to achieve a next round of funding or selling it. I’d be willing to bet that more investors lose a great amount of aggregate capital here than at any other stage.

Lean 40

Lean Early Stage Valuation Startup 40

ithacaVC

JANUARY 24, 2013

Let’s assume the following: Common Stock outstanding: 3,400,000 shares owned by the founders. 62,000 of convertible debt outstanding with $13,700 of aggregate interest accumulated, which also converts as well in the qualifying round. That would be the share price of the Series A stock being sold to new Series A investors.

Valuation 53

Valuation Balance Sheet Option Pool Dilution 53

Hunter Walker

JULY 7, 2017

Are your competitors aggregating your work? So I try to look at it in the aggregate—is my audience growing over time? I wrote a piece about abandoning Evernote, a company where I had become friendly with some folks who used to work there, and they messaged to remind me that they still have stock in the company.

San Francisco 51

San Francisco Aggregator Audience PR 51

Hunter Walker

AUGUST 26, 2022

Our timing was brutal: the Box S-1 coincided with the start of a major market correction for SaaS stocks, and our newly revealed financials made us a natural poster company for that change in sentiment. A process that normally takes five weeks, give or take, took us ten months!

IPO 91

IPO Cofounder Early Stage Portfolio 91

Hippoland

JANUARY 4, 2017

So, in the aggregate, it is possible that you may be required to pay as much as $30k-$50k to get an equity round done. For example, if a startup is raising $1m in a priced round, this means that the startup must find enough investors to in aggregate invest $1m into your company at specified terms within a certain time period.

Convertible Security 48

Convertible Security Equity Security Silicon Valley 48